Fundamental Analysis of Bajaj Electricals Ltd

About the Company - Bajaj Electricals Ltd

Bajaj Electricals Ltd. is a Public Limited Listed company incorporated on 14/07/1938 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L31500MH1938PLC009887 and registration number is 009887. Currently Company is involved in the business activities of Manufacture of other pumps, compressors, taps and valves. Company’s Total Operating Revenue is Rs. 4770.35 Cr. and Equity Capital is Rs. 22.97 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Domestic Appliances	45/47, Veer Nariman Road, Mumbai Maharashtra 400001	legal@bajajelectricals.com http://www.bajajelectricals.com

Management
Name	Position Held
Mr. Shekhar Bajaj	Chairman
Mr. Anuj Poddar	Managing Director & CEO
Mrs. Pooja Bajaj	Executive Director
Mr. Rajiv Bajaj	Non Executive Director
Mr. Madhur Bajaj	Non Executive Director
Mr. Shailesh Haribhakti	Independent Director
Mr. Sudarshan Sampathkumar	Independent Director
Mr. Saurabh Kumar	Independent Director
Ms. Swati Salgaocar	Independent Director
Mr. Vikram Hosangady	Independent Director

Basic Stock Data of Bajaj Electricals Ltd

Last Updated: July 26, 2024, 10:58 pm

Market Cap	11,567 Cr.
Current Price	1,004
High / Low	1,173/820
Stock P/E	89.2
Book Value	125
Dividend Yield	0.30 %
ROCE	12.7 %
ROE	7.74 %
Face Value	2.00
PEG Ratio	1.13

Data Source: screener.in

Bajaj Electricals Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	1,497	1,254	853	1,297	1,312	1,327	1,124	1,220	1,308	1,292	1,112	1,113	1,229
Expenses	1,349	1,183	846	1,205	1,220	1,264	1,051	1,127	1,204	1,195	1,043	1,036	1,174
Operating Profit	148	72	7	92	92	63	73	94	104	98	69	77	55
OPM %	10%	6%	1%	7%	7%	5%	6%	8%	8%	8%	6%	7%	4%
Other Income	23	29	13	21	10	19	9	20	12	22	23	9	45
Interest	16	11	15	19	16	10	7	10	15	12	12	14	20
Depreciation	18	16	14	15	16	16	15	18	16	21	21	26	29
Profit before tax	136	74	-9	79	70	56	60	86	86	86	59	46	51
Tax %	26%	24%	26%	21%	26%	24%	26%	26%	26%	32%	27%	27%	26%
Net Profit	101	56	-6	62	52	42	44	64	63	59	43	33	38
EPS in Rs	8.81	4.89	-0.56	5.40	4.49	3.66	3.87	5.56	5.52	5.10	3.76	2.91	3.29

Last Updated: July 11, 2024, 7:23 am

Bajaj Electricals Ltd Quarterly Chart

Bajaj Electricals Ltd Profit & Loss

Last Updated: July 10, 2024, 3:22 pm

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	3,077	3,351	4,002	4,232	4,590	4,254	4,697	6,656	4,975	4,572	4,786	5,418	5,000
Expenses	2,840	3,239	3,920	4,143	4,326	4,011	4,403	6,308	4,768	4,271	4,535	5,060	4,675
Operating Profit	237	112	82	88	264	243	293	348	207	302	251	358	325
OPM %	8%	3%	2%	2%	6%	6%	6%	5%	4%	7%	5%	7%	7%
Other Income	14	41	15	24	48	36	-36	65	53	84	59	83	91
Interest	63	69	78	104	108	80	59	116	169	76	69	48	54
Depreciation	13	14	25	29	27	30	34	38	68	69	63	75	86
Profit before tax	176	69	-6	-21	177	168	164	259	22	241	179	318	277
Tax %	33%	26%	11%	33%	38%	36%	49%	36%	101%	24%	23%	27%
Net Profit	118	51	-5	-14	110	108	84	167	-0	184	137	231	199
EPS in Rs	10.66	4.62	-0.48	-1.25	9.85	9.57	7.39	14.69	-0.01	16.04	11.91	20.03	17.29
Dividend Payout %	24%	39%	-282%	-108%	26%	26%	43%	21%	0%	0%	25%	20%

Bajaj Electricals Ltd Profit & Loss Yearly Chart

Bajaj Electricals Ltd Growth

Compounded Sales Growth
10 Years:	1%
5 Years:	-7%
3 Years:	0%
TTM:	-5%

Compounded Profit Growth
10 Years:	38%
5 Years:	-5%
3 Years:	-6%
TTM:	-39%

Stock Price CAGR
10 Years:	13%
5 Years:	25%
3 Years:	-1%
1 Year:	-12%

Return on Equity
10 Years:	9%
5 Years:	8%
3 Years:	9%
Last Year:	8%

Last Updated: July 26, 2024, 5:28 pm

Bajaj Electricals Ltd Balance Sheet

Last Updated: July 10, 2024, 3:22 pm

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	20	20	20	20	20	20	20	20	23	23	23	23	23
Reserves	680	709	690	667	736	851	924	1,057	1,357	1,582	1,722	1,938	1,390
Borrowings	209	166	348	408	899	647	723	1,582	1,079	541	82	101	203
Other Liabilities	1,043	1,263	1,627	1,727	1,305	1,569	1,805	2,500	2,100	2,105	2,175	2,652	2,223
Total Liabilities	1,952	2,157	2,685	2,822	2,960	3,087	3,473	5,160	4,559	4,250	4,002	4,715	3,838
Fixed Assets	184	226	249	278	276	310	316	322	404	461	685	753	814
CWIP	3	6	3	3	21	8	6	9	11	18	43	42	72
Investments	44	30	67	59	80	80	14	51	53	38	49	91	49
Other Assets	1,721	1,895	2,366	2,482	2,583	2,688	3,136	4,778	4,091	3,734	3,225	3,829	2,903
Total Assets	1,952	2,157	2,685	2,822	2,960	3,087	3,473	5,160	4,559	4,250	4,002	4,715	3,838

Bajaj Electricals Ltd Reserves and Borrowings Chart

Bajaj Electricals Ltd Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	141	-7	121	305	437	-103	-602	627	660	931	449	354
Cash from Investing Activity	-0	-76	-83	-53	-90	36	-127	-46	-110	-86	-88	-449
Cash from Financing Activity	-144	87	-56	-239	-368	64	718	-491	-605	-772	-139	-133
Net Cash Flow	-4	4	-19	13	-22	-3	-11	90	-56	73	223	-227

Bajaj Electricals Ltd Financial Efficiency Indicators

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	109	102	113	111	112	115	136	144	150	121	87	100
Inventory Days	56	60	57	58	60	76	68	64	76	118	109	103
Days Payable	131	139	152	142	66	84	100	85	99	115	136	153
Cash Conversion Cycle	35	23	17	27	106	107	104	123	127	124	59	50
Working Capital Days	43	28	20	19	60	41	71	85	69	67	29	31
ROCE %	29%	13%	7%	8%	21%	16%	20%	17%	7%	12%	13%	18%

Bajaj Electricals Ltd Financial Efficiency Indicators Chart

Bajaj Electricals Ltd Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	63.10%	63.05%	63.01%	62.98%	62.96%	62.91%	62.89%	62.86%	62.85%	62.85%	62.85%	62.80%
FIIs	12.03%	12.86%	11.75%	10.64%	10.51%	10.81%	11.26%	11.22%	10.92%	10.49%	10.41%	10.18%
DIIs	11.29%	11.05%	11.61%	12.04%	12.41%	12.30%	12.23%	12.39%	11.96%	12.06%	12.11%	12.61%
Public	13.57%	13.04%	13.64%	14.35%	14.12%	13.98%	13.62%	13.51%	14.26%	14.60%	14.62%	14.41%
No. of Shareholders	58,713	53,700	66,825	71,897	72,573	70,319	66,018	63,059	60,389	63,101	65,600	63,094

Bajaj Electricals Ltd Shareholding Pattern Chart

No. of Bajaj Electricals Ltd Shareholders

Bajaj Electricals Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Small Cap Fund - Regular Plan	5,582,540	2.46	569.67	5,582,540	2024-07-26	0%
Nippon India Small Cap Fund	3,062,071	0.84	312.47	5,582,540	2024-07-26	-45.15%
ICICI Prudential Multicap Fund	693,015	0.81	70.72	5,582,540	2024-07-26	-87.59%
Mahindra Manulife Small Cap Fund	296,181	1.35	30.22	5,582,540	2024-07-26	-94.69%
Baroda BNP Paribas Flexi Cap Fund	143,800	1.24	14.67	5,582,540	2024-07-26	-97.42%
Mahindra Manulife Flexi Cap Fund	137,023	1.37	13.98	5,582,540	2024-07-26	-97.55%
HDFC Capital Builder Value Fund - Regular Plan	88,571	0.16	9.04	5,582,540	2024-07-26	-98.41%
Aditya Birla Sun Life Special Opportunities Fund	86,310	1.39	8.81	5,582,540	2024-07-26	-98.45%
LIC MF Multi Cap Fund	75,468	1.13	7.7	5,582,540	2024-07-26	-98.65%
LIC MF ULIS 10 Yrs Regular Premium Reducing cover	61,854	1.41	6.31	5,582,540	2024-07-26	-98.89%

Bajaj Electricals Ltd ROCE Trend

Bajaj Electricals Ltd EPS Trend

Bajaj Electricals Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	11.39	18.80	10.85	16.54	-0.99
Diluted EPS (Rs.)	11.37	18.77	10.81	16.49	-0.99
Cash EPS (Rs.)	20.89	25.89	16.86	23.06	5.82
Book Value[Excl.RevalReserv]/Share (Rs.)	125.11	165.74	148.44	140.10	118.51
Book Value[Incl.RevalReserv]/Share (Rs.)	125.11	165.74	148.44	140.10	118.51
Revenue From Operations / Share (Rs.)	402.90	471.80	418.98	400.27	438.37
PBDIT / Share (Rs.)	30.05	37.67	27.72	32.51	22.37
PBIT / Share (Rs.)	20.54	30.57	21.70	25.95	15.89
PBT / Share (Rs.)	15.03	26.37	14.48	21.50	0.87
Net Profit / Share (Rs.)	11.38	18.79	10.83	16.50	-0.65
NP After MI And SOA / Share (Rs.)	11.38	18.79	11.19	16.64	-0.81
PBDIT Margin (%)	7.45	7.98	6.61	8.12	5.10
PBIT Margin (%)	5.09	6.47	5.17	6.48	3.62
PBT Margin (%)	3.72	5.58	3.45	5.37	0.20
Net Profit Margin (%)	2.82	3.98	2.58	4.12	-0.14
NP After MI And SOA Margin (%)	2.82	3.98	2.67	4.15	-0.18
Return on Networth / Equity (%)	9.09	11.33	7.42	11.87	-0.68
Return on Capital Employeed (%)	14.11	17.07	13.59	17.07	11.25
Return On Assets (%)	3.41	4.62	3.21	4.48	-0.20
Long Term Debt / Equity (X)	0.00	0.00	0.01	0.01	0.05
Total Debt / Equity (X)	0.00	0.00	0.02	0.16	0.55
Asset Turnover Ratio (%)	1.09	1.24	1.15	1.04	1.02
Current Ratio (X)	1.21	1.30	1.21	1.18	1.11
Quick Ratio (X)	0.85	0.89	0.74	0.78	0.87
Inventory Turnover Ratio (X)	0.56	0.50	0.41	0.35	0.40
Dividend Payout Ratio (NP) (%)	35.12	15.94	0.00	0.00	0.00
Dividend Payout Ratio (CP) (%)	19.13	11.57	0.00	0.00	0.00
Earning Retention Ratio (%)	64.88	84.06	0.00	0.00	0.00
Cash Earning Retention Ratio (%)	80.87	88.43	0.00	0.00	0.00
Interest Coverage Ratio (X)	5.45	8.96	4.57	4.87	1.49
Interest Coverage Ratio (Post Tax) (X)	3.14	5.47	2.97	3.14	0.95
Enterprise Value (Cr.)	10157.46	11736.78	12224.99	11392.02	3680.34
EV / Net Operating Revenue (X)	2.19	2.16	2.54	2.48	0.73
EV / EBITDA (X)	29.34	27.07	38.38	30.59	14.46
MarketCap / Net Operating Revenue (X)	2.25	2.23	2.57	2.44	0.61
Retention Ratios (%)	64.87	84.05	0.00	0.00	0.00
Price / BV (X)	7.24	6.35	7.13	6.98	2.26
Price / Net Operating Revenue (X)	2.25	2.23	2.57	2.44	0.61
EarningsYield	0.01	0.01	0.01	0.01	0.00

Bajaj Electricals Ltd Profitability Ratios (%)

Bajaj Electricals Ltd Liquidity Ratios

Bajaj Electricals Ltd Liquidity Ratios (%)

Bajaj Electricals Ltd Interest Coverage Ratios (%)

Bajaj Electricals Ltd Valuation Ratios

Fair Value

Fair Value: 865.60

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Overvalued: 13.78% compared to the current price 1004

Intrinsic Value: 1,548.13

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 54.20% compared to the current price 1004

Last 5 Year EPS CAGR: 78.85%

*Investments are subject to market risks

Strength and Weakness of Bajaj Electricals Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 15.08%, which is a positive sign. The company has higher reserves (1,133.08 cr) compared to borrowings (565.92 cr), indicating strong financial stability. The company has shown consistent growth in sales (4.15 cr) and profit (155.62 cr) over the years.	The stock has a high average Working Capital Days of 46.92, which may not be favorable. The stock has a high average Cash Conversion Cycle of 75.17, which may not be favorable.

FAQ

What is the latest fair value of Bajaj Electricals Ltd?

The latest fair value of Bajaj Electricals Ltd is ₹865.60.

What is the Market Cap of Bajaj Electricals Ltd?

The Market Cap of Bajaj Electricals Ltd is 11,567 Cr..

What is the current Stock Price of Bajaj Electricals Ltd as on 27 July 2024?

The current stock price of Bajaj Electricals Ltd as on 27 July 2024 is 1,004.

What is the High / Low of Bajaj Electricals Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bajaj Electricals Ltd stocks is 1,173/820.

What is the Stock P/E of Bajaj Electricals Ltd?

The Stock P/E of Bajaj Electricals Ltd is 89.2.

What is the Book Value of Bajaj Electricals Ltd?

The Book Value of Bajaj Electricals Ltd is 125.

What is the Dividend Yield of Bajaj Electricals Ltd?

The Dividend Yield of Bajaj Electricals Ltd is 0.30 %.

What is the ROCE of Bajaj Electricals Ltd?

The ROCE of Bajaj Electricals Ltd is 12.7 %.

What is the ROE of Bajaj Electricals Ltd?

The ROE of Bajaj Electricals Ltd is 7.74 %.

What is the Face Value of Bajaj Electricals Ltd?

The Face Value of Bajaj Electricals Ltd is 2.00.